EURUSD | Page 2356 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #47,101
  • Nov 25, 2008 9:15pm Nov 25, 2008 9:15pm
Quoting NuckingFuts
Metatrader gaps all the time because it only updates when the price has changed. See your 1 minute chart, it has gaps from bar close to the next bar open on every single bar.

OANDA on the other hand rarely gaps, because it updates every few seconds and shows a flat bar if the price has not moved.
1minute chart i ignore in off session hours. because there is few players in the market there is no real volume to make a nice smooth trend. london session or ny session comes though...very very nice candles even on 1min chart...like earlier... that run up from 1.28 to 1.3080 was a nice 5 wave EW with nothing but full candles on even one 1min chart.


Still you bring up a good point which is something im considering big time. Does anyone know if Deutchebank is a good broker?..i heard they dont use mt4 but not sure...apparently they are #1 or something
Different opinions highly valued, ignorant to slander.
  • #47,102
  • Nov 25, 2008 9:25pm Nov 25, 2008 9:25pm
Quoting psiholog
1minute chart i ignore in off session hours. because there is few players in the market there is no real volume to make a nice smooth trend. london session or ny session comes though...very very nice candles even on 1min chart...like earlier... that run up from 1.28 to 1.3080 was a nice 5 wave EW with nothing but full candles on even one 1min chart.


Still you bring up a good point which is something im considering big time. Does anyone know if Deutchebank is a good broker?..i heard they dont use mt4 but not sure...apparently they are #1 or something...
My point is that metatrader gaps every single tick, because it only updates when the price has changed.

It is not only the 1 minute chart, it is every chart.

Compare the bar close to the next bar's open, there is always a difference of at least 1 pip or at least 0.1 of a pip if your broker uses 5 digits (like FxPro).

This is a flaw in metatrader itself and cannot be classed as a "true" gap.
  • #47,103
  • Nov 25, 2008 9:32pm Nov 25, 2008 9:32pm
Quoting NuckingFuts
My point is that metatrader gaps every single tick, because it only updates when the price has changed.

It is not only the 1 minute chart, it is every chart.

Compare the bar close to the next bar's open, there is always a difference of at least 1 pip or at least 0.1 of a pip if your broker uses 5 digits (like FxPro).

This is a flaw in metatrader itself and cannot be classed as a "true" gap.
my broker is ibfx which uses only 4...i tried looking at fxpro but that 5digit thing you just mentioned confuses me. in any case lets not take this topic any further...what you say is probably true...but if i know how to exploit this then good for me right?...like i said...its just another tool in my trading arsenal just like you have your own tools
Different opinions highly valued, ignorant to slander.
  • #47,104
  • Nov 25, 2008 9:33pm Nov 25, 2008 9:33pm
Quoting NuckingFuts
Metatrader gaps all the time because it only updates when the price has changed.
glad you guys came in on this, as i always thought the gap he was talking about was the weekend thing as well. then i just saw he was using the 5m chart and realized that's what he always meant all along.

have to agree on the data feed thing as well, and the 1m is certainly notorious for them from ibfx during very slow times when the price doesn't change. i'll get 2-3 pip moovement on my fxsol platform and ibfx often stays frozen with no changes, both on demo and live feeds, with demo being somewhat worse imo as they give that less priority. that is what i personally heard from their support people last year on an unrelated issue.

it's not a price gap in other words, it's simply a data gap. no different than the weekend gaps really as there is no data then from a closed borker either and the combination of none to thin liquidity, weekend developments and opening market action skews things all over the place anyway as far as demand when the markets do finally open.

fwiw,, here's what investopedia has to say ... http://www.investopedia.com/terms/g/gap.asp?viewed=1

bottom line is we all trade what we see in any event, but i know a gap fill strategy on anything less than a weekend gap wouldn't work for me . i don't even trade those any more...

price is what price is when i'm looking at it, nothing else.

ADDED: just got my daily pivot tp... but was stopped out for 1 pip while watching House. oh well. strategy worked anyway even if the trade didn't.
FUBAR...
  • #47,105
  • Edited 9:47pm Nov 25, 2008 9:36pm | Edited 9:47pm
EU had been hanging up for the past 2 days i think we will see 1.3100 soon. X'mas is just around the corner I expect to see a lot of buying so I think we will see a reversal going uptrend very soon.
  • #47,106
  • Nov 25, 2008 9:49pm Nov 25, 2008 9:49pm
Quoting psiholog
my broker is ibfx which uses only 4...i tried looking at fxpro but that 5digit thing you just mentioned confuses me. in any case lets not take this topic any further...what you say is probably true...but if i know how to exploit this then good for me right?...like i said...its just another tool in my trading arsenal just like you have your own tools
It's just how the developers designed metatrader. If the price does not change, it does nothing. The price has to move at least 1 pip or 0.1 of a pip for 5 digit brokers to change, thus you'll always get a gap for every market tick.

Unless you have a true interbank feed (IBFX is not an interbank BTW, it's a bucketshop), trading gaps through the week is risky because you don't know if it's a true gap.
  • #47,107
  • Nov 25, 2008 9:54pm Nov 25, 2008 9:54pm
Quoting emda
fancy channel ... is it an indicator? or manual drawing ?
It is an indicator that i wrote. it is rough around the edges and i have had trouble training others in its use.
  • #47,108
  • Nov 25, 2008 9:59pm Nov 25, 2008 9:59pm
Quoting ak4x
glad you guys came in on this, as i always thought the gap he was talking about was the weekend thing as well. then i just saw he was using the 5m chart and realized that's what he always meant all along.

have to agree on the data feed thing as well, and the 1m is certainly notorious for them from ibfx during very slow times when the price doesn't change. i'll get 2-3 pip moovement on my fxsol platform and ibfx often stays frozen with no changes, both on demo and live feeds, with demo being somewhat worse imo as they give that less priority. that...
Spot on about the data gap ak. It's near impossible to tell for sure if it's a real price gap.

Gaps that occur from NY close on Friday to Aussie open Monday (Sunday in the US) can be considered a real price gap.

I cannot remember that last time a true weekend gap on this pair did not close within the week.

Not so with other pairs like geppy for example. She can leave gaps open for years
  • #47,109
  • Nov 25, 2008 10:23pm Nov 25, 2008 10:23pm
Quoting Pyramus
EU had been hanging up for the past 2 days i think we will see 1.3100 soon. X'mas is just around the corner I expect to see a lot of buying so I think we will see a reversal going uptrend very soon.
You might be standing alone on that one.. if you mean longer term to uptrend.. 2 days is jumping the gun a bit on a process that might go on for months or possibly years as did the run up on EU before she started dropping..

of course there are always two sides of every coin.. or trade.. so there will never a time when everyone agrees.

if you just meant that you think things are heading to 131 before heading back down.. its possible.. the daily pivots have bounced price as i type this.. they are one thing that might turn things back up.
  • #47,110
  • Nov 25, 2008 10:32pm Nov 25, 2008 10:32pm
Quoting SpecialEd
Was away watching evening tv with my daughter....

The folks here that can grab 150 pips a day are really an inspiration to me. I can usually only squeeze out 180 per week on average, though I have had a few 1000 pip weeks.

Any words from the wise?

Thx.
  • #47,111
  • Nov 25, 2008 10:33pm Nov 25, 2008 10:33pm
Been keeping tabs on price. Hoping it remains rejected off 1.30XX highs, I want to really pile in in 2009 short the dollar, the lower the better.
  • #47,112
  • Nov 25, 2008 10:40pm Nov 25, 2008 10:40pm
Quoting TIckerShuffl
Been keeping tabs on price. Hoping it remains rejected off 1.30XX highs, I want to really pile in in 2009 short the dollar, the lower the better.
Not to worry. There will be plenty of time to go long EU somewhere around 1.10
  • #47,113
  • Nov 25, 2008 10:44pm Nov 25, 2008 10:44pm
Here is a 5M of the eMini S&P 500 futures tonight. Range bound boring action so I wouldn't expect much from EU on Wednesday or the rest of the week. Oh maybe some slash and burn reverse on a dime all to go nowhere kind of PA.
Attached Image (click to enlarge)
Click to Enlarge Name: ES5min.PNG Size: 27 KB
  • #47,114
  • Nov 25, 2008 11:16pm Nov 25, 2008 11:16pm
On any other nite, I'd expect to see M2 from here but... it is what it is. one can hope.

QP's at 3026 and 2958 working pretty well this evening. Suntraders chart tell the tale imo tho, and this kind of momentum or lack thereof can be a "death by a 1000 cuts" account killer. g'nite all.
FUBAR...
  • #47,115
  • Nov 25, 2008 11:19pm Nov 25, 2008 11:19pm
Quoting ak4x
On any other nite, I'd expect to see M2 from here but... it is what it is. one can hope.

QP's at 3026 and 2958 working pretty well this evening. Suntraders chart tell the tale imo tho, and this kind of momentum or lack thereof can be a "death by a 1000 cuts" account killer. g'nite all.
ahh yes I know death by a 1000 cuts very well...lol...
  • #47,116
  • Nov 25, 2008 11:27pm Nov 25, 2008 11:27pm
so yea...another tap of the lower wall of the upwards channel...and no surprise...a bounce off it....i think bears are picking up momentum though with limited upside movement...to be seen...we may have a break down in the next 5 hours

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 35 KB
Different opinions highly valued, ignorant to slander.
  • #47,117
  • Nov 25, 2008 11:31pm Nov 25, 2008 11:31pm
Quoting geojams
The folks here that can grab 150 pips a day are really an inspiration to me. I can usually only squeeze out 180 per week on average, though I have had a few 1000 pip weeks.

Any words from the wise?

Thx.


what is the method traded to where this person is making 150+ a day?...by 150 pips you mean 150 pips for every ONE lot traded?
  • #47,118
  • Nov 25, 2008 11:58pm Nov 25, 2008 11:58pm
Quoting big_pipin
what is the method traded to where this person is making 150+ a day?...by 150 pips you mean 150 pips for every ONE lot traded?
I always give the benefit of the doubt. If someone says they do 150/week, they do 150/week.

Still, if I go long one full lot and then close .20 lots every 10 pips I only count this as 50 pips. For instance, go long at 00 then close .20 at 10, 20, 30, 40, and 50. My leverage changed not my pips.

Now if I go long at 00 and then add another at 25 then close both at 50, is that 50 pips or 75? It was two different trades that just so happened to overlap.

Since I generally always keep the same number of lots for all my trades in a given week and don't step out of trades, it is easy for me to count pips. I take my total $$$ for the week and divide by the number of lots. This gets me a number that is really close to my pips for the week. If I am feeling especially diligent I will throw all my trades in a spreadsheet and do a true count.

I just always wondered if everybody counted the same.
  • #47,119
  • Nov 25, 2008 11:59pm Nov 25, 2008 11:59pm
Psiholog,

Note that pa has been falling right inside a narrow downward channel since 3:30pm EST. Probably until London session, right?

Here's my M30 chart that I've been watching.
Attached Image
Up or down, gimme a ticket
  • #47,120
  • Nov 26, 2008 12:01am Nov 26, 2008 12:01am
Quoting big_pipin
what is the method traded to where this person is making 150+ a day?...by 150 pips you mean 150 pips for every ONE lot traded?
On my side, 150 pips is equal to 15 trades of 10 pips each, which is easy to do if scalping a whole session but most probably not sustainable for most of us. Also, when there is a surge as the ones that occurred monday and yesterday, of course, you can grab 200+ pips in less than an hour...

For example, I usually make between 200-400 pips a month... not trading steadily every day. But yesterday I was testing a system performance and worked 4 continuous hours "scalping" longs within a range, and made 120 pips in that time. But it's really exhausting as it requires full attention for the whole time span...

For me, one pip is independent of the quantity of traded lots, as it is the movement in price. If you open at 1.2800 and close at 1.2900 you've made 100 pips regardless of the size of the position, be it 1 full lot, 20 lots or 0,01 (microlots). You won't be able to guess how much (or how less) does a trader earn through the amount of pips he/she gets...
552 traders viewing now